ChinaEarly investors offer robot-startup shares at 65-80% of last valuation.
Buyers hesitate even as Stardust Intelligence raises 1 billion yuan at a 15 billion yuan valuation.
New money buys fresh shares to build the next product, while old holders selling early shares need buyers before funds mature.
Early holders bought cheaply, so even a 35% discount to the latest round can still profit them.
Leju Robotics’ listing review has been suspended since 30 September over expired financial documents.
How each outlet framed it
- TMTPost
- reads secondary-share discounts as a pricing problem: a 65-80% bid on last-round value says little about company health without the next round's terms
Sources: TMTPost